ACTIONS news , forecasts , expectations , December 2020 - page 7
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INDEX USA 2020.12.08 22:56
09.12.2020 06:45
The hike upwards continues
Another record 3712.52
Weed dividends will be handed out.
Marijuana producer Verano prepares to enter the market via reverse takeover
When it comes to new listed companies in the cannabis sector, there has been little news in 2020. However, it is worth mentioning one small US firm that could be of interest.
According to a BNN Bloomberg report, Chicago-based Verano Holdings plans to go public by the end of the year with a valuation of approximately $3 billion.
The international cannabis producer plans to attract investors and rekindle interest in the marijuana sector, which began to wane in 2019.
However, the path chosen by Verano Holdings is not that simple.
According to a Bloomberg report, Verano is poised to offer $75 million worth of shares to the market through a reverse takeover (RTO) of Calgary-basedMajesta Minerals, which is listed on the Canadian Stock Exchange. If the RTO is successful, Verano's shares will be listed on the CSE.
Under the terms of the deal, Majesta will value Verano at $2.88 billion.
Once the deal is completed, Verano will be the third-largest marijuana producer in the US by sales volume and the fifth-largest by valuation behind rivals such as Curaleaf Holdings (OTC:CURLF) (CSE:CURA) and Cresco Labs (OTC:CRLBF) (CSE:CL).
Verano has a presence in 14 states and has 46 sales outlets and eight production sites. Last year, the company had revenue of $121 million and adjusted EBITDA of $42 million. Bloomberg reported, citing an investor presentation, that the company estimates it will end 2020 with about $380 million in revenue and $160 million in adjusted EBITDA.
In November, Verano announced the purchase of Alternative Medical Enterprises, a marijuana company operating in Florida and Arizona.
If Verano is successful in its IPO, the move could mark an important moment in the broader perspective for the marijuana sector: renewed interest in US cannabis markets.
The US continues on its path towards legalisation (six states are already poised to legalise cannabis) and US producers, operating both domestically and internationally, continue to grow and show profits.
On the other hand, Canadian companies, which have attracted all the attention since legalisation in Canada, continue to struggle and continue to boast of no profits and their assets and products are, judging by newspaper headlines, losing value.
Cannabis producers now account for $14.6 billion of Canadian GDP
And while the cannabis companies listed on the Canadian exchange are having a tough time, the news isn't too bad.
The latestGDP report showed that cannabis accounted for about C$14.6 billion ($11.43 billion) in September, according to the latest figures released by Statistics Canada. This is a significant increase from the previous estimate of CAD 8 billion (USD 6.26 billion).
StatsCan also reported that Canadian household spending on marijuana purchases in the third quarter of 2020 was fixed at C$8.49 ($6.64) billion, up from C$6.76 ($5.22) billion for the same period in 2019.
Weed dividends will be handed out.
Marijuana producer Verano prepares to enter the market via reverse takeover
When it comes to new listed companies in the cannabis sector, there has been little news in 2020. However, it is worth mentioning one small US firm that could be of interest.
According to a BNN Bloomberg report, Chicago-based Verano Holdings plans to go public by the end of the year with a valuation of approximately $3 billion.
The international cannabis producer plans to attract investors and rekindle interest in the marijuana sector, which began to wane in 2019.
However, the path chosen by Verano Holdings is not that simple.
According to a Bloomberg report, Verano is poised to offer $75 million worth of shares to the market through a reverse takeover (RTO) of Calgary-basedMajesta Minerals, which is listed on the Canadian Stock Exchange. If the RTO is successful, Verano's shares will be listed on the CSE.
Under the terms of the deal, Majesta will value Verano at $2.88 billion.
Once the deal is completed, Verano will be the third-largest marijuana producer in the US by sales volume and the fifth-largest by valuation behind rivals such as Curaleaf Holdings (OTC:CURLF) (CSE:CURA) and Cresco Labs (OTC:CRLBF) (CSE:CL).
Verano has a presence in 14 states and has 46 sales outlets and eight production sites. Last year, the company had revenue of $121 million and adjusted EBITDA of $42 million. Bloomberg reported, citing an investor presentation, that the company estimates it will end 2020 with about $380 million in revenue and $160 million in adjusted EBITDA.
In November, Verano announced the purchase of Alternative Medical Enterprises, a marijuana company operating in Florida and Arizona.
If Verano is successful in its IPO, the move could mark an important moment in the broader perspective for the marijuana sector: renewed interest in US cannabis markets.
The US continues on its path towards legalisation (six states are already poised to legalise cannabis) and US producers, operating both domestically and internationally, continue to grow and show profits.
On the other hand, Canadian companies, which have attracted all the attention since legalisation in Canada, continue to struggle and are still not boasting profits and their assets and products are, judging by newspaper headlines, losing value.
Cannabis producers now account for $14.6 billion of Canadian GDP
And while the cannabis companies listed on the Canadian exchange are having a tough time, the news isn't too bad.
The latestGDP report showed that cannabis accounted for about C$14.6 billion ($11.43 billion) in September, according to the latest figures released by Statistics Canada. This is a significant increase from the previous estimate of CAD 8 billion (USD 6.26 billion).
StatsCan also reported that Canadian household spending on marijuana purchases in the third quarter of 2020 was fixed at C$8.49 ($6.64) billion, up from C$6.76 ($5.22) billion for the same period in 2019.
Food of the gods McKenna American book)))) apparently finds supporters there.
09.12.2020 06:45
The hike upwards continues
Another record 3712.52
3713.12
Presumably the US equities will rally higher in the morning.
Investing.com - Reaching the 3,700 pt bar on theS&P 500 index proved to be quite an obvious reason to lock in profits. However, everything is so great in the news that investors can hardly hold out much longer and not start investing again in anticipation of the same magic events: some more news about a vaccine, new injections from the Fed and an aid package for the American economy. By the way, regarding the latter Investing.com warned that Senate Leader Mitch McConnell is easy to negotiate on the level of positive statements, but in fact he is not inclined to compromise much - which is what we have in the news today.
There is little time left: there is a risk that the provision for financing the US government will not be passed before Friday and then it will go into "shutdown", many of its functions will cease or be severely slowed down. The House of Representatives is due to recess on the same day, and the Senate is due to start recess next Friday.
On the other hand - where will this package go? A week earlier, a week later. Todaythe S&P 500futures was down to 3665, however since 15.00 MSK it started recovering and by the start of trading the major instrument was above 3880, and soon it was up and over 3700. TheBrent futures also slowed down today and even recovered from $48.12 to $48.95, but there is no certainty in its behavior yet.
Of the notable economic statistics today, we can note the unexpectedly good December ZEW index of economic sentiment in Germany: it was expected to rise from 39p to 45.5p, but it jumped straight to 55p. In fairness, however, it should be noted that in September this index - also unexpectedly - exceeded 77p, and the magical takeoff in the German economy has not happened since then.
"The mood is quite optimistic: It has already been said that the consensus of the investment banks is that either the vaccination will be successful and the economy will grow or there will be more support measures and markets alone will grow. Therefore, we can expect a strong end to the year," says Sergei Suverov, investment strategist at Aricapital Asset Management. - There is some negative news - the pandemic has not yet stopped, difficulties with Brexit, but even that does not particularly hinder optimism.
All is well in Russia. Order is growing in the country: the Duma has passed in its first reading another bill, and it may not be the last, on new powers for police officers, expanding their right to use weapons. It is fair to say that the deputies were patient and did not rush to the last minute: the government introduced the bill back in May. Also passed in the first reading was a bill on new grounds for defining citizens as foreign agents.
President Vladimir Putin signed the law on another extension of the moratorium on investment of pension savings until 2023 - they will continue to be used for current payments of pensions, which will save the budget 669.3 billion rubles. But Russians should not worry about the future either - there is a National Welfare Fund for peace of mind in this regard. There were ideas to spend it at least partially, following the example of others, right now to support citizens and the economy, but the squandering was given a clear answer: "The main purpose of the Sovereign Wealth Fund, where $115 billion of commodity superprofits were accumulated as of early November, is not the anti-crisis programs, but the distribution of commodity rent between generations," Deputy Finance Minister Vladimir Kolychev said in an interview with Bloomberg.
Russia is just a little short of understanding with other countries: the other day, the UN General Assembly, by 63 votes to 17, demanded "the immediate, complete and unconditional withdrawal of its armed forces from Crimea and an immediate end to the temporary occupation of Ukrainian territory". This could be an additional argument in favour of sanctions. However, it should not be forgotten that this is not the first resolution with this tone either.
And so far foreign investors are clearly not bothered: they have reportedly invested more than $1bn in Russian-oriented equity and bond funds in a month. True, foreigners have a bad habit of going in gradually and exiting at once, sometimes crashing the market. But that is clearly not today and is unlikely to happen tomorrow.
Today the Russian equity market is only slightly corrected, withthe MosSE index down 0.48% and theRTS index down 0.31%. However, after the strong rally since early November, this is not even a correction but rather just a minor fluctuation. The ruble keeps getting stronger too - by 19:30 Moscow time the US dollar had dropped by 27pc to Rb 73.37. At the same time, the exchange rate has been falling even faster since the beginning of December than in the previous few weeks.
"There is an inflow of foreign money, everything is quiet about the sanctions, and that calms investors. However, the inflows are mainly into liquid securities - Sberbank (MCX:SBER), Gazprom (MCX:GAZP). Also, metallurgical paper is playing up the rise in steel prices. The pent-up consumer demand is making itself felt - there were even lines at Tiffany's shops, and ALROSA (MCX:ALRS) is also up," continued Sergei Suverov. - The ruble is strongly strengthened and a move to 72-73 per dollar is possible, followed by a possible correction. The markets may gain another 3-4% before the end of the year.
(Text prepared by Daniil Zhelobanov)
After the phrase All is well in Russia.
Finally decided to buy some more or less decent amount of USD to increase deposit in USD equivalent, waiting for the right level.
At the moment I tempted by 70, but I would like to buy 60, ideally at 33 if I go back to the period before 2014, in the distant 0s even 24 seemed to be expensive.
USDRUB Month 2020.12.09 09:17
Investing.com - Reaching the 3,700 pt bar on theS&P 500 index proved to be quite an obvious reason to lock in profits. However, everything is so great in the news that investors can hardly hold out much longer and not start investing again in anticipation of the same magic events: some more news about a vaccine, new injections from the Fed and an aid package for the American economy. By the way, regarding the latter Investing.com warned that Senate Leader Mitch McConnell is easy to negotiate on the level of positive statements, but in fact he is not inclined to compromise much - which is what we have in the news today.
There is little time left: there is a risk that the provision for financing the US government will not be passed before Friday and then it will go into "shutdown", many of its functions will cease or be severely slowed down. The House of Representatives is due to recess on the same day, and the Senate is due to start recess next Friday.
On the other hand - where will this package go? A week earlier, a week later. Todaythe S&P 500futures was down to 3665, however since 15.00 MSK it started recovering and by the start of trading the major instrument was above 3880, and soon it was up and over 3700. TheBrent futures also slowed down today and even recovered from $48.12 to $48.95, but there is no certainty in its behavior yet.
Of the notable economic statistics today, we can note the unexpectedly good December ZEW index of economic sentiment in Germany: it was expected to rise from 39p to 45.5p, but it jumped straight up to 55p. In fairness, however, it should be noted that this index - also unexpectedly - was above 77p in September, and the magical takeoff in the German economy has not happened since then.
"The mood is quite optimistic: It has already been said that the consensus of the investment banks is that either the vaccination will be successful and the economy will grow or there will be more support measures and markets alone will grow. Therefore, we can expect a strong end to the year," says Sergei Suverov, investment strategist at Aricapital Asset Management. - There is some negative news - the pandemic has not yet stopped, difficulties with Brexit, but even that does not particularly hinder optimism.
All is well in Russia. Order is growing in the country: the Duma has passed in its first reading another bill, and it may not be the last, on new powers for police officers, expanding their right to use weapons. It is fair to say that the deputies were patient and did not rush to the last minute: the government introduced the bill back in May. Also passed in the first reading was a bill on new grounds for defining citizens as foreign agents.
President Vladimir Putin signed the law on another extension of the moratorium on investment of pension savings until 2023 - they will continue to be used for current payments of pensions, which will save the budget 669.3 billion rubles. But Russians should not worry about the future either - there is a National Welfare Fund for peace of mind in this regard. There were ideas to spend it at least partially, following the example of others, right now to support citizens and the economy, but the squandering was given a clear answer: "The main purpose of the Sovereign Wealth Fund, where $115 billion of commodity superprofits were accumulated as of early November, is not the anti-crisis programs, but the distribution of commodity rent between generations," Deputy Finance Minister Vladimir Kolychev said in an interview with Bloomberg.
Russia is just a little short of understanding with other countries: the other day, the UN General Assembly, by a vote of 63 to 17, demanded "the immediate, complete and unconditional withdrawal of its armed forces from Crimea and an immediate end to the temporary occupation of Ukrainian territory". This could be an additional argument in favour of sanctions. However, it should not be forgotten that this is not the first resolution with this tone either.
And so far foreign investors are clearly not bothered: they have reportedly invested more than $1bn in Russian-oriented equity and bond funds in a month. True, foreigners have a bad habit of going in gradually and exiting at once, sometimes crashing the market. But that is clearly not today and is unlikely to happen tomorrow.
Today the Russian equity market is only slightly corrected, withthe MosSE index down 0.48% and theRTS index down 0.31%. However, after the strong rally since early November, this is not even a correction but rather just a minor fluctuation. The ruble is also strengthening. By 19:30 Moscow time, the US dollar had dropped by 27pc to Rb 73.37. At the same time, the exchange rate has been falling even faster since the beginning of December than in the previous few weeks.
"There is an inflow of foreign money, everything is quiet about the sanctions, and that calms investors. However, the inflows are mainly into liquid securities - Sberbank (MCX:SBER), Gazprom (MCX:GAZP). Also, metallurgical paper is playing up the rise in steel prices. The pent-up consumer demand is making itself felt - there were even lines at Tiffany's shops, and ALROSA (MCX:ALRS) is also up," continued Sergei Suverov. - The ruble is strongly strengthened and a move to 72-73 per dollar is possible, followed by a possible correction. The markets may gain another 3-4% before the end of the year.
(Text prepared by Daniil Zhelobanov)
In Russia there is no change and not all is well. Byzantine law prevails over Roman law unfortunately.
In Russia there is no change and not all is well. Byzantine law prevails over Roman law unfortunately.
I thinkDaniel Zhelobanov should be told to make his wording more precise. At the time of Ivan the Terrible, his head would have been chopped off immediately.
p.s.
With the wording: For excessive embellishment of reality, the smerd Danilka beheaded, his wife exiled to a monastery in Solovki for life, without the right to receive messages on birch bark and orally.
I thinkDaniel Zhelobanov should be told to be more precise in his wording. In the days of Ivan the Terrible, their heads would have been cut off immediately.
Yes, interpreters often didn't survive)))) Byzantine roots from there still))))